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July 4, 2023

Woodio: €16.3M Funding to Revolutionize Sustainable Sanitaryware

Woodio, the eco-pioneer from Helsinki, secures €16.3M in growth funding, propelling sustainable biomaterial innovation

Led by the UB Forest Industry Green Growth Fund (UB FIGG) and the European Innovation Council (EIC), this investment marks another milestone for Woodio in its mission to revolutionize the bathroom industry with its ecological, water-resistant wood composite products.

Since its inception, Woodio has raised an impressive total of €27M in funding, demonstrating the strong interest and support for its innovative approach. The current round of funding not only saw participation from new investors but also witnessed continued backing from existing ones, underlining the confidence in Woodio's vision and potential.

Founded in 2016 by Petro Lahtinen, Woodio has transitioned under the leadership of CEO Terja Koskenoja, who took the helm in May 2023. With a background in the forest industry and having previously served as Woodio's production and development director, Koskenoja brings valuable expertise and a deep understanding of the company's core principles.

Woodio's commitment to sustainability is evident in its choice of raw materials, primarily using aspen chips and forestry sector-derived chips. By utilizing a water-efficient manufacturing process and eschewing energy-intensive methods commonly associated with ceramic bathroom fixtures, Woodio's wood composite products have a significantly lower carbon footprint.

In fact, the company claims that its biomaterial-based wash basins have an astounding 80 percent lower carbon footprint compared to ceramic basins of the same size. This not only showcases the environmental benefits of Woodio's approach but also highlights its potential to combat climate change by replacing high-carbon-footprint materials.

With the newly raised funds, Woodio is poised to expand its business operations within Finland and accelerate its international presence. The company's ambition to scale its sustainable biomaterial innovation aligns perfectly with its mission to drive positive change in the bathroom industry and pave the way for a more sustainable future.

Woodio's founder, Petro Lahtinen, applauds the progress made in commercializing the biomaterial innovation, emphasizing the forest sector's untapped potential. Lahtinen recognizes the importance of specialized funds, such as UB FIGG, emerging in Finland to support forest-based growth companies, thus contributing to the continued development of the industry.

Woodio's journey represents an inspiring example of leveraging sustainable biomaterials to create innovative and eco-friendly solutions. With its ongoing commitment to revolutionizing the bathroom industry, Woodio is well-positioned to make a lasting impact and propel the adoption of sustainable practices across the globe.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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